Funded

Shay

Bäckerei Provincial

A loan of $3,000 helped kick-start Bäckerei Provincial in providing Community Supported Bread (CSB) shares and wholesale bread to the region using Montana grown grains. It will help us buy initial inventory and start-up supplies.

Shay's story

My time traveling in a military family and volunteering in various branches of AmeriCorps took me to many places to eat and learn and eventually brought me to the Mission Valley where my family and I call home. Food has played a central theme in my personal life and locally sourced food in my professional career. I have spent the past six years increasing access to locally sourced food to public institutions and low income demographics in western Montana. My dream is to provide a community involved, regional bakery to the area.

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This loan is special because:

It will help a female entrepreneur establish her bakery where she will offer wholesale bread using locally grown grains.

More about this loan

Business Description

I decided to start Bäckerei Provincial because I love delicious, quality, regionally unique food. I come from a military family and from my time living and eating in Germany I remember each town having a staple bakery where the breads were amazing and focused on the grains and ingredients available locally. I want to bring a staple bakery to enliven the area with good food.
The biggest challenge to the business is getting going with access to low interest start-up capital, which is essential for a generation that has a high student loan burden and whether they have the ability to start a new business or not.
Bäckerei Provincial will initially provide Community Supported Bread (CSB) shares available for pick-up once a week and bread wholesale to restaurants. In the future, it will provide breakfasts and lunches to two on site vacation rentals and in year two and three to the Dixon community.

What is the purpose of this loan?

A KIVA loan will allow Bäckerei Provincial to officially open its doors Feb 15, 2018. The loan will be used in the following manner: Local Licensing- $220, Insurance- $200, Grain Mill- $400, Bread Slicer- $200, Bowls/Knives- $100, 3 mo. ingredients- $500, Marketing- $100, Banner- $100, Packaging- $150, Labels- $200, 3 mo. cash flow $700, Square for i-phone- $30, Cleaning supplies- $100 for a total of $3,000.
The following has currently been invested in the business as of 1/10/2018: Jan & Feb Rent + Depost- $600, Logo Development- $150, Cottage Food Licence- $40, Business Name Registration- $20 for a total of $810.

Loan length/repayment term

The loan length or repayment term is the number of months it takes from the point that the loan is disbursed to the borrower to the point when the last repayment is due to be paid to Kiva lenders.

Repayment schedule

A loan's repayment schedule describes the frequency with which repayments are sent to Kiva lenders:

Monthly: One repayment made per monthEnd of term: One repayment made at the end of the loan termIrregular: Any other repayment schedule

To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."

What is the disbursed date?

The disbursed date indicates the date that the borrower receives their loan funds. Loan disbursal for loans on Kiva can happen anywhere from 30 days before to 90 days after the loan is posted on the Kiva website. Direct loans are always post-disbursed, and will be done only after the loan has fully fundraised on Kiva.

In the case of partner loans, many of Kiva's Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by Kiva lenders, the Field Partner has to fund the loan without any funds from Kiva lenders.

If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.

What is currency exchange loss and how could it affect my Kiva loans?

When lending internationally, the local currency in a borrower's country may lose some of its value compared to the US dollar -- requiring the partner to use more of its local currency to reimburse Kiva in USD. We offer Field Partners the option to protect themselves against severe currency fluctuations (a USD appreciation of over 10% relative to their local currency) by sharing any losses greater than 10% with Kiva lenders. By bearing these losses, lenders protect the partner and its borrowers from catastrophic currency devaluations.

Potential for currency exchange loss is noted on every loan profile under the loan details:

"Covered" means the Field Partner has opted to cover any currency loss. Lenders will not bear losses due to currency fluctuation.

"Possible" means the Field Partner has opted not to cover these losses, and lenders face additional risk because they will bear losses greater than 10%.

"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.

Do Kiva borrowers pay any interest on their loans?

Yes, most Kiva borrowers do pay interest to our Field Partners in some form. Kiva and Kiva lenders themselves do not receive interest on these loans.

Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.

Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.

There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.

What is a risk rating?

There are many levels of risk associated with Kiva loans, which are explained on our website here: kiva.org/about/risk

The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"

Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.

How are loans facilitated?

Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.

For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.

For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.

More information about successive and concurrent loans

Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.

Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.

Trustee type

This is the type of organization that the Trustee is.

What are Trustee tiers?

Trustee tiers determine the number of endorsements a Trustee can make and what loan sizes they can endorse. All Trustees begin as a pilot and can advance in tier depending on their borrowers' repayment performance.
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers

Trustee location

This is the location where the Trustee is based.

Trustee's time on Kiva

Time on Kiva shows the number of months a Trustee has been endorsing loans on Kiva for funding.

Kiva borrowers (direct loans)

This figure represents the total number of loans endorsed by this Trustee that have fundraised on Kiva.

Trustee's total loans

This figure includes the total amount of loans that this Trustee has endorsed. This excludes refunded loans.

Fundraising / raised

This figure represents the number of loans endorsed by this Trustee that are currently fundraising or fully funded.

Paying back on time

This figure represents the number of loans endorsed by this Trustee that are currently paying back on their repayment schedule.

Trustee's loans paying back late

This figure represents the number of loans endorsed by this Trustee that are currently paying back behind their repayment schedule.

Repaid in full

This figure represents the number of loans endorsed by this Trustee that have completed all repayments.

Trustee loans defaulted

This figure represents the number of loans endorsed by this Trustee that have ended in default.

Trustee repayment rate

This figure is the total amount of money currently collected by borrowers endorsed by this Trustee, divided by the total amount of money currently due from borrowers. This excludes payments made ahead of schedule.

Why are you endorsing Shay?

Shay has worked with CFAC in many capacities over a number of years, most recently as a part-time employee working on farmers market development in rural areas. She has extensive knowledge of building local food systems and has built a strong portfolio of project and business skills throughout her time in Montana. Her business focuses on serving an area with limited resources and will support other sustainably minded local businesses in her community. Shay is determined to run her business with best waste management practices, composting and using renewable packaging products – an issue that has been gaining awareness and traction in our area and around the nation. We feel confident in her character and ability to pay back her loan.

Loan length/repayment term

The loan length or repayment term is the number of months it takes from the point that the loan is disbursed to the borrower to the point when the last repayment is due to be paid to Kiva lenders.

Repayment schedule

A loan's repayment schedule describes the frequency with which repayments are sent to Kiva lenders:

Monthly: One repayment made per monthEnd of term: One repayment made at the end of the loan termIrregular: Any other repayment schedule

To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."

What is the disbursed date?

The disbursed date indicates the date that the borrower receives their loan funds. Loan disbursal for loans on Kiva can happen anywhere from 30 days before to 90 days after the loan is posted on the Kiva website. Direct loans are always post-disbursed, and will be done only after the loan has fully fundraised on Kiva.

In the case of partner loans, many of Kiva's Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by Kiva lenders, the Field Partner has to fund the loan without any funds from Kiva lenders.

If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.

What is currency exchange loss and how could it affect my Kiva loans?

When lending internationally, the local currency in a borrower's country may lose some of its value compared to the US dollar -- requiring the partner to use more of its local currency to reimburse Kiva in USD. We offer Field Partners the option to protect themselves against severe currency fluctuations (a USD appreciation of over 10% relative to their local currency) by sharing any losses greater than 10% with Kiva lenders. By bearing these losses, lenders protect the partner and its borrowers from catastrophic currency devaluations.

Potential for currency exchange loss is noted on every loan profile under the loan details:

"Covered" means the Field Partner has opted to cover any currency loss. Lenders will not bear losses due to currency fluctuation.

"Possible" means the Field Partner has opted not to cover these losses, and lenders face additional risk because they will bear losses greater than 10%.

"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.

Do Kiva borrowers pay any interest on their loans?

Yes, most Kiva borrowers do pay interest to our Field Partners in some form. Kiva and Kiva lenders themselves do not receive interest on these loans.

Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.

Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.

There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.

What is a risk rating?

There are many levels of risk associated with Kiva loans, which are explained on our website here: kiva.org/about/risk

The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"

Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.

How are loans facilitated?

Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.

For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.

For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.

More information about successive and concurrent loans

Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.

Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.

Trustee type

This is the type of organization that the Trustee is.

What are Trustee tiers?

Trustee tiers determine the number of endorsements a Trustee can make and what loan sizes they can endorse. All Trustees begin as a pilot and can advance in tier depending on their borrowers' repayment performance.
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers

Trustee location

This is the location where the Trustee is based.

Trustee's time on Kiva

Time on Kiva shows the number of months a Trustee has been endorsing loans on Kiva for funding.

Kiva borrowers (direct loans)

This figure represents the total number of loans endorsed by this Trustee that have fundraised on Kiva.

Trustee's total loans

This figure includes the total amount of loans that this Trustee has endorsed. This excludes refunded loans.

Fundraising / raised

This figure represents the number of loans endorsed by this Trustee that are currently fundraising or fully funded.

Paying back on time

This figure represents the number of loans endorsed by this Trustee that are currently paying back on their repayment schedule.

Trustee's loans paying back late

This figure represents the number of loans endorsed by this Trustee that are currently paying back behind their repayment schedule.

Repaid in full

This figure represents the number of loans endorsed by this Trustee that have completed all repayments.

Trustee loans defaulted

This figure represents the number of loans endorsed by this Trustee that have ended in default.

Trustee repayment rate

This figure is the total amount of money currently collected by borrowers endorsed by this Trustee, divided by the total amount of money currently due from borrowers. This excludes payments made ahead of schedule.

Why are you endorsing Shay?

Shay has worked with CFAC in many capacities over a number of years, most recently as a part-time employee working on farmers market development in rural areas. She has extensive knowledge of building local food systems and has built a strong portfolio of project and business skills throughout her time in Montana. Her business focuses on serving an area with limited resources and will support other sustainably minded local businesses in her community. Shay is determined to run her business with best waste management practices, composting and using renewable packaging products – an issue that has been gaining awareness and traction in our area and around the nation. We feel confident in her character and ability to pay back her loan.

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